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XTPL – summary of the third quarter of 2020

  • Agreement signed with the University of Stuttgart, Institut für Großflächige Mikroelektronik “IGM” for the supply of the UPD technology demonstrator (a significant event after the Balance Sheet Date)
  • PLN 12.85 million obtained for the Company’s further growth, an outcome of the completed financial round
  • Development of the patent cloud
  • “BUY” recommendation for XTPL, with a PLN 210 price target, from MainFirst Bank AG

 

“The last quarter was a period of intensive business and R&D activity for us. Our vision is clear: make XTPL solutions revolutionize the global industry. Every day we develop our technology of ultra-precise printing of nanomaterials, and expand our product portfolio. The agreement signed a few days ago with the Institute in Stuttgart speaks to the potential of the technology commercialized by XTPL”, says Filip Granek, PhD, CEO of XTPL S.A.

XTPL TO DELIVER ITS DELTA PRINTING SYSTEM TO THE UNIVERSITY OF STUTTGART

On 23 November 2020, the Company announced the signing of its first major commercial agreement with the IGM Institute. The lease-purchase agreement relates to the UPD technology demonstrator – XTPL Delta Printing System – a system for precise printing of micro-features, including conductive structures. The maximum contract value is EUR 190 thousand net (approx. PLN 880 thousand net). Institut für Großflächige Mikroelektronik in Stuttgart is a research institution developing display technology in cooperation with the industry’s largest manufacturers. The UPD technology demonstrator will be used in the production of a fully printed, high-resolution flat-panel display.

XTPL is currently in a series of talks at various levels of progress with other potential recipients of the Delta printer. Interested entities include both research centers and R&D units of large technological corporations.

SUCCESSFUL ISSUE OF SHARES

In July, the Company successfully completed a financial round, which brought proceeds of PLN 12.85 million for the development of R&D, continuation of commercialization, and expansion of the intellectual property portfolio. XTPL has funds secured for research and development activity until the beginning of 2022.

PATENT CLOUD DEVELOPMENT

XTPL is constantly expanding its patent cloud. In the third quarter of 2020, the Company filed another patent application with the United States Patent and Trademark Office. This application protects XTPL’s method of printing micrometric structures on complex substrates, which are typical of modern microelectronic devices such as microLEDs. The XTPL method offers a unique possibility to make highly-conductive and robust electrical connections in flexible electronic devices, which is used in Flexible Hybrid Electronics (FHE). After the balance sheet date (i.e. after 30 September), XTPL filed one more patent application, protecting the method of precise positioning of the printing nozzle, in particular when printing on arbitrary substrates with complex topography, such as modern displays or flexible hybrid microelectronics systems.

GERMAN ANALYSTS GIVE A “BUY” RECOMMENDATION

German MainFirst Bank AG from the Stifel Group recommends “BUY” with regard to XTPL and valued the company at a PLN 210 price target. MainFirst is a European financial services firm, specializing in Equity Brokerage, Investment Banking and Fixed Income. It is worth noting that XTPL is the first Polish company covered by the German analysts.

 

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